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Mirboo North, VIC 3871

Home » VIC Real Estate Data » South Gippsland Shire, VIC » Mirboo North, VIC 3871

If you’re looking to buy, rent, or invest in property, it’s important to do your research on the suburb first. This includes looking at house prices, real estate rental market data, and other advanced metrics. Here, we’ve compiled that information for Mirboo North, VIC 3871 to help you make an informed decision about your property choice in this suburb.





Market Snapshot

This page provides an overview of the area’s real estate market. The data in this snapshot illustrates typical price, median rent and gross yield metrics for this suburb. You are able to visualise these 3 key metrics as well as other important indicators in the dashboard section that follows.

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Rent 

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Yield 

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Buy 

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Rent 

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Lower Risk RCS™

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Capital Growth RCS™

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Cashflow RCS™

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Essentials
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Yield chart
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GRC chart
Fundamentals
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IRSAD chart
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Renters to owners pie chart
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unit to houses pie charts
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Demand chart
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Inventory chart
Supply

Stock on Market

Inventory

Hold Period

Building Approvals

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SOM chart
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Inventory chart
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Inventory chart
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Hold chart
Demand

Days on Market

Vacancy Rate

Clearance Rate

Search Index

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DOM chart
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Inventory chart
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Index chart
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Auction chart

How was this calculated? Typical Price is a continuous metric calculated via a process called data fitting. Median Rent is weekly advertised rent based on rentals over the preceding 12 months. Gross Yield is Median Rent x 52 x 100 / Typical Price. To discover additional information, click the “i” icon in the top left corner of each graph or visit the Data Dictionary page.

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0 thoughts on “Mirboo North, VIC 3871”

  1. The total adult population (15 years or older) of Mirboo North 3871 VIC is 1,850, with a median age of 48. Of those, 48.16% are married, 17.03% are divorced or separated, 28.54% are single and 6.65% are widowed.

    The average household size is 2.4 people per dwelling, and the median household monthly income is estimated to be $6,424. The median monthly mortgage repayment for households in this suburb is $1,367 which is 21.28% of their earnings.

    Source: ABS Census Data (2021)

  2. Nestled in Victoria is the suburb of Mirboo North, postcode 3871. Known as a vibrant community, Mirboo North houses an approximate 1217 households. As we delve into the third quarter of 2023, property market statistics for houses in this locale are showing noteworthy signs.

    Houses in Mirboo North are currently valued with a typical price of $590,247. Those who have invested in rental properties are seeing a median weekly rent of $378, bringing an indicative yield of 3.33%. Though modest, this yield does meet the minimum market requirement of 3% making the area somewhat attractive for investors focused on cash flow.

    Taking into account the socio-economic score, or irsad, Mirboo North holds a measure of 955 out of 1217, which indicates strong socio-economic status among residents. This suggests a prosperous community with potential for reliable tenants and consistent rental returns.

    The renter to owner ratio in the area is 13%, well under the threshold that might signify an oversaturated market. This low ratio proposes an environment with ample propensity for tenant demand and lower risks for the property investors from competition. The units to houses ratio stands at 3%, showing a strong preference for houses over units in this market. This could suggest less competition amongst landlords, giving them more leverage in maintaining higher rental yields.

    However, the suburb’s affordability index or ‘years to own’ is marked at 36 years, lightly shadowing the area with decreased affordability. Although mildly higher than the average Australian mortgage term, astute investors should factor this into their calculations.

    Supply metrics paint a positive picture for Mirboo North. With a stock on market Percentage of only 0.09% and an inventory level of 0.5 months, this suggests a favourable, low-supply market. Confirming this viewpoint, The Building Approval Ratio, also condoning low supply, is at a favourable 0.35%.

    Moving onto Demand metrics, the area’s days on market figure is 54 days, indicating a neutral demand within the market. The Vacancy rate, including both houses and unit, is 4.46%, somewhat higher than the optimal range. This may suggest a slightly reduced demand, necessitating careful property selection to secure the right tenant. In the online space, the buy search index for houses sits at 5, suggesting that demand for property in Mirboo North aligns with the state average.

    Like all property markets, Mirboo North presents its unique blend of characteristics. While some scores sit outside ideal parameters, it’s crucial to remember that investment decisions should never solely rest on one single metric. An advanced metric like RCS (Relative Composite Score), for instance, integrates 80+ metrics and provides a rounded snapshot of the property market health.

    In conclusion, with the majority of indicators displaying positive or neutral signs, Mirboo North, VIC continues to be worth monitoring closely for those looking to make studious investment decisions. And as we always recommend, keep your eye on the market movements, as property investment is a long-term decision.

    It’s important to note that the above analysis provides a snapshot of current value metrics but doesn’t consider metric trends, which can also significantly influence investment decisions. Moreover, some metrics have greater importance than others based on various factors, a nuance that must be understood for a holistic analysis.

    Join HtAG Analytics to visualise these metrics trends, and gain a deeper understanding of their importance. By becoming part of HtAG Analytics, you will be empowered to make informed decisions, discerning which metrics are more significant in the context of your property investment strategy.

    This content serves to inform and does not constitute investment advice. Property investment involves risks and uncertainties, and professional advice should be sought before making any investment decisions. By leveraging expert guidance, potential investors can ensure a comprehensive understanding of the complex property investment landscape.

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